Hun Sen declares oil extraction a ‘failure’ for Cambodia

Premier Hun Sen declared Cambodia’s attempt at oil extraction a “failure” on Sunday, just eight months after the kingdom achieved its long-awaited milestone of producing its first drop of crude. In late December the nation announced it had extracted oil from its waters in the Gulf of Thailand which experts believe boasts significant deposits. But the operation, led by Singapore’s KrisEnergy, was endangered after the company was unable to pay its debts and filed for […]